Apple Car Project Might Be Organized By Hyundai Motor Company

Apple is one of the top three companies with the highest market value in the U.S. And it’s logical the Cupertino firm wants to enter the electric cars market, which is considered to be accelerating recently. But the company understands that it doesn’t know anything about this segment. And if there are no smart approaches and versed partners, the project will fail. Moreover, it’s reported that this company is not going to build cars itself. Instead, it will follow the strategy used for making phones.

When saying this, we mean Apple will cooperate with car makers. As Korean Times reports, Apple is currently looking for OEM production by auto companies. At the same time, they will be responsible for the overall quality and electrification of the Apple car. Hyundai, which is in the first echelon in the United States, is expected to take the lead in taking the olive branch thrown by Apple. But not everything as clear as may seem.

As the source said, Apple had contacted a number of South Korean electric car parts manufacturers for its “Apple Car” project.

“Apple officials have been in Korea for business talks with its Korean partners in the semiconductor and display sectors. As seen in Apple’s smartphone business, the company is seeking business partners in Korea for its EV business,” a senior industry executive directly involved with the issue told The Korea Times.

“Without partnerships with Korean vendors, Apple won’t be able to complete its EV business plan. As far as I know, Apple has talked with LG, SK and Hanwha, but the talks are still in the early stages.”

Hyundai Doesn’t Take Such A Responsibility

Earlier, we heard that Hyundai would OEM Apple’s production tasks. However, now, as the Apple car project begins to advance step by step, the differences between the two parties have also been further expanded. There is a possibility that this may even cause a passive situation in which the overall project is shelved. Some media reported that the executives of Hyundai Motor Company have disagreements on the potential cooperation with Apple. Hyundai’s internal dissatisfaction with becoming Apple’s foundry factory has made the prospect of the two transactions unclear. But the industry analysts believe that the first Apple car models will appear on the market in 2024.

Also Read: Will We See Apple Car And Xiaomi Car Ever? Everything You Should Know

However, 9To5Mac fairly says that “it’s still unclear what Apple plans to create with its Apple Car project, whether it’s a car for retail sales, a ride-sharing car, or even just a technology for other vehicles. Its launch is also unclear, with reports saying it could be unveiled any time in this decade.”